When young people tell me capitalism is the problem, I listen. Most of them aren’t angry at rich people. They’re angry at a system that feels rigged, one that protects insiders and asks everyone else to wait their turn. Capitalism has done a poor job of marketing itself to the people at the bottom of the ladder, and that’s on those of us who believe in it.

So this episode of Money and Wealth is just me, making the case for what I call good capitalism. My definition is simple. Bad capitalism says I benefit and you pay the price for it. Good capitalism says I benefit, and you benefit more.

I walk through how capitalism, socialism and communism actually differ, why America has always worked best as a balanced, mixed economy, and what I learned in the early 1990s taking busloads of bankers through South Central Los Angeles. I also explain why I am not anti-rich. I am anti-poverty, and the answer to poverty is more owners.

If you’ve ever wondered whether the system can work for you, or there’s a young person in your life who has given up on it, this is the conversation to share. It builds on the ideas in my book, Capitalism for All.

🎧 Listen now — wherever you get your podcasts, or simply click below.

Prefer to watch? The full episode is on YouTube.